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AUD/CAD Analysis, Bear Claw is in Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The AUD/CAD has started what seems to be a Bearish movement back in September and it doesn't look it's going to stop any time soon. The pair is had a small push-up 2 days ago that let people think that the market is stabilizing but today's session started Bearish with a 0.5% drop already. Technical Analysis with possible Scenarios for the market : Scenario 1 : It seems like the market broke the first support line located at 0.91760 today, And the Bears are in control over the market right now and they will increase what power they have to drop the market even more. The first stop will be the support line at 0.91560 where they might have a small push back from the Bulls but most likely the victory will be on the Bears side, Which will lead to a further drop that will reach the 0.91000 zone Scenario 2 : The Bulls are trying to gain control over the market but so far with no luck, If they were able to gain some control it will probably push the price to the first resistance line located at 0.91970 where a big battle will happen and the Bears will go in to take control over the market and continue this Bearish movement, The first stop after this happens will be the second support at 0.91560 and then the 0.91000 zone Technical indicators show : 1) The market is below the 5 10 20 50 100 and 200 MA and EMA (Strong Bearish Sign) 2) The ADX is at 16.11 showing that the market is not trending much right now and that it's having a Negative crossover between DI+ and DI- 3) The RSI is at 39.16 Showing Weakness in the market, with no divergence found between the indicator and the market Daily Support & Resistance points : support Resistance 1) 0.9176 1) 0.9197 2) 0.9166 2) 0.9206 3) 0.9156 3) 0.9217 Weekly Support & Resistance points : support Resistance 1) 0.9139 1) 0.9218 2) 0.9100 2) 0.9258 3) 0.9060 3) 0.9297 Fundamental point of view : The Australian Current Account Balance for the fourth quarter was reported at A$14.5B. Economists predicted a figure of A$13.1B. Forex traders can compare this to the Australian Current Account Balance for the third quarter, reported at A$10.0B. Australian Net Exports of GDP for the fourth quarter decreased by 0.1% quarterly. Economists predicted a decrease of 0.3% quarterly. Forex traders can compare this to Australian Net Exports of GDP for the third quarter, which decreased by 1.9% quarterly. The Canadian GDP for December is predicted to increase by 0.3% monthly and for the fourth quarter by 7.5% annualized. Forex traders can compare this to the Canadian GDP for November, which increased by 0.7% monthly, and to third-quarter GDP, which increased by 40.5% annualized. The forecast for the AUD/CAD remains bearish after price action failed to sustain its upward movement towards the psychological resistance level of 1.0000. According to Paxforex This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
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by GabiDahduh
1
AUDCAD Setting Up for a 1,000 Pip Move?Hey hey. My name is Kaci. In this video, I complete a top down analysis of AUDCAD. I take a bird's eye view of the longer term move in the market. In this video, I use fibonacci retracement and extension tool to help me determine my bias. Right now, I believe we are in a down retracement and price on the weekly has not hit one of our key levels, 38.2, 50. or 61.8. However, price has hit an extension to the downside off of a shallow retracement. I believe we may see a short term move to the upside before a longer term move to the downside. What's your bias on this pair?
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by kacijackson
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AUDCAD - Bearish BiasAUD - Weak Bearish 1️⃣ RBA minutes indicate that the central bank will keep interest rates at least until 2024. 2️⃣ The RBA expects that there will be an economic contraction in the third quarter, and board members agree that the period of recovery in economic activity will be heavily dependent on the removal of sanctions. 3️⃣ Iron ore prices declined due to concerns about global growth. CAD - Strong Bullish 1️⃣ The recovery in crude oil prices gave support to the CAD. ===== Technical ===== We are selling AUDCAD after it failed to break resistance. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia